MicroStrategy has continued on its massive Bitcoin bet, making its largest single purchase this year worth over $2 billion
MicroStrategy, the business intelligence firm with a large appetite for Bitcoin, has boosted its holdings in the world’s leading digital asset. In a recent development, MicroStrategy acquired 27,200 BTC at approximately $2.03 billion. This follows a series of moves in its latest Bitcoin acquisition plans.
Strategic Bitcoin Accumulation Amidst Market Volatility
Michael Saylor, co-founder and Chairman of MicroStrategy, shared an update on the recent acquisition in a post on X. According to him, the additional 27,200 BTC cost the firm an average of $74,463 per Bitcoin. This suggests that at the current trading price of Bitcoin in the cryptocurrency market, MicroStrategy has made an impressive profit.
According to data, Bitcoin is currently trading at $81,920 per BTC. This gives MicroStrategy a profit margin of $7,457 per Bitcoin. Cumulatively, the total profit margin from this fresh purchase stands at a staggering $202,830,400. This emphasizes Saylor’s enthusiasm for Bitcoin accumulation.
Meanwhile, as Saylor highlighted, MicroStrategy’s returns or “BTC Yield” have also appreciated over the recent quarter. Specifically, its Quarter-to-date (QTD) percentage gain stands at 7.3%. Additionally, its Year-to-date (YTD) has soared by 26.4% since the start of the year. These metrics, while spotlighting the volatility that has characterized the market, also emphasize the recent rally in Bitcoin’s price.
Before this purchase, MicroStrategy added 7,420 BTC for $458 million. That took its Bitcoin holding to 252,220 BTC, with a QTD of 5.1% and YTD of 17.8%. However, with this latest acquisition, MicroStrategy now has 279,420 BTC. This accumulation comes at an aggregate price of approximately $11.9 billion. The average price for all of MicroStrategy’s Bitcoin holdings is around $42,692 per BTC.
MicroStrategy Catching Up to Satoshi Nakamoto
As earlier reported by BGECrypto, Saylor hinted at this massive purchase when it announced MicroStrategy’s plans to raise $42 billion. The plan is to generate the capital over the course of three years. According to the announcement, the fund will comprise $21 billion each in equity and fixed-income securities.
In a recent interview, Saylor clarified that MicroStrategy will not shift its concentration away from investing in Bitcoin. The business intelligence firm has fixed its sight on only Bitcoin and ignores other cryptocurrencies. MicroStrategy’s chairman maintains that Bitcoin remains the key driver of the company’s stock growth.
MicroStrategy, led by Saylor as chairman, has always adopted an all-or-nothing approach to the world’s leading digital asset. He insists that one “either believes Bitcoin is something or it is nothing.”
This principle has fuelled the company’s aggressive accumulation strategy since 2020, regardless of BTC market price.
MicroStrategy has surpassed a quarter of Satoshi Nakamoto’s 1.1 million BTC holdings by 4,420 BTC. Yet, it does not look like the business intelligence firm is about to stop accumulating more Bitcoin.
Disclaimer: The information provided in this article is for informational purposes only. It does not constitute investment, financial, trading, or any other sort of advice. You should not treat any of BGECrypto’s content as such. BGEcrypto does not recommend that any cryptocurrency should be bought, sold, or held by you. Do your due diligence and consult your financial advisor before making any investment decisions.
